Steak 'n' Shake going out of business?

[Brian D.]

Around here, they (after giving employees three hours' warning) shut down all their locations at 8pm. Sign on the door stated they were converting them all from company to franchisee stores. From here in Cincytucky, all the way to north of Dayton, Ohio.

I did some news digging. Doesn't sound like they have the franchisees lined up, or even on the horizon anyplace. I really feel bad for the employees, but sudden shutdowns like that seem to be standard practice in their industry. Darn shame, I really liked grabbing breakfast or lunch at the one closest to my house.